The Founex Report emphasized that concern for the environment should not and need not detract from the commitment of the global community “Developing and more industrialized nations alike to the overriding task of development1”. The present paper through some relevant case laws addresses the potential negative impact on the society and the environment owing to the pollution caused by the corporate sector and the indifference of the government towards it. These case laws represent the real situation which demonstrates that there is an immense need of imbibing the feeling of being compassionate and accountable towards them.

Description

The globe is facing a serious threat of environmental degradation owing to indiscriminate development. “We do not inherit the Earth from our ancestors; we borrow it from our

children”. The chief purpose of business is to supply “continually improving goods and services for increasing number of people at prices they can afford” which should be connected with today’s challenges, for instance, pollution, threats of rising temperatures, water shortages and crop failures which should be addressed together with governments and international bodies as risks for our business,2 as the competency of the environment is limited both in terms of service… growth in furnishing raw materials and in assimilating by-product wastes owing to consumption.3

Corporate Social Responsibility (CSR) policies must address economic, environmental and social concerns whereby global problems can be resorted to. According to Business Dictionary, CSR is a company’s sense of responsibility towards the community and environment (both ecological and social) in which it operates. Companies express this citizenship (1) through their waste and pollution reduction processes, (2) by contributing educational and social programs, and (3) by earning adequate returns on the employed resources.4